Former Housing Federation members told to pay Rs 9 cr fine

Wayanad: The state government has issued an order to levy a fine around Rs 9 crore from the former governing council members of State Cooperative Housing Federation. The government dismissed the appeal submitted by the members, who challenged the order issued by the Registrar of Cooperative Societies. The Housing Federation incurred financial loss after the members unlawfully invested its fund in LIC and the government order directs to recover the amount from them as penalty. Though the members approached the High Court, it directed them to submit an appeal to the government. Dismissing the appeal, the government issued a fresh order on December 11.

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